Clearwater CRA authorizes staff to negotiate with Archway on 178‑unit Washington Commons

The Clearwater Community Redevelopment Agency on June 15 directed staff to begin negotiating a development purchase and sale agreement with Archway Partners after the firm’s mixed‑use, mixed‑income proposal was ranked highest among five respondents.

Jesus Nino, CRA executive director, told trustees the solicitation covered seven agency‑owned parcels between South Martin Luther King Jr. Avenue and South Washington Avenue north of Gold Street that together total about 3.13 acres in the downtown Prospect District. Archway’s proposal, described in staff materials as "Washington Commons," calls for a two‑phase, five‑story project with roughly 178 residential units and about 3,000 square feet of neighborhood‑serving commercial space to activate the streetscape. The residential mix targets one‑ and two‑bedroom units serving households at or below 80% of area median income, and the project includes rooftop solar and electric‑vehicle charging infrastructure.

Archway proposes to acquire the parcels at the appraised value of $2.52 million and requested the CRA consider providing roughly $1.22 million from city housing funds toward the capital stack. Nino said Archway intends to pursue competitive 9% low‑income housing tax credits and may hold the project as a priority through multiple application cycles; the firm also plans to pursue 4% credits and other financing options if needed. Trustees noted the 9% credits are highly competitive and that projects sometimes must pivot to alternative financing if awards are not secured.

Board members and staff emphasized that the motion before the board was direction to negotiate rather than final approval of sale terms or funding. At the end of the discussion, trustees moved to authorize staff to negotiate a purchase and sale agreement with Archway Partners; the motion passed by unanimous vote. Nino said negotiated terms and any funding requests would return to the CRA board for final approval.

What happens next: staff will begin negotiations with Archway and return any proposed purchase and sale agreement, including any funding requests or contingency language tied to tax‑credit awards, to the CRA board for consideration.

"This aligns with our downtown redevelopment goals and creates housing and street‑level activity where we want it," Jesus Nino said during the presentation.

Trustees’ action: authorize staff to negotiate with Archway Partners (direction only); formal agreement and any funding approvals to be considered at a future board meeting.